Hainan Airport establishes JV with Baixiang Logistics, Beijing Airport down on threat of high-speed
Shares in Chinese airports were mixed yesterday with Hainan Meilan International Airport gaining 3.1% while Beijing Capital International Airport fell 2.3%.
Hainan Airport entered into a JV agreement with Baixiang Logistics for the establishment of a JV company, Hainan Meilan International Airport Cargo Co Ltd. The JV company will be involved in international (including regional) and domestic air cargo transportation sales agency services, ground agency service for inbound and outbound cargo at Meilan Airport, and ground transportation services. Hainan Airport hold a 51% equity stake in the JV while Baixiang Logistics will hold the remaining 49% stake.
Also in China, shares in Beijing Airport fell 2.3% following reports the proposed Beijing-Guangzhou high-speed railway will be operational in 2012. Guangzhou Airport’s shares however, rose 1.5% in trading yesterday. See related report: High-speed rail to make inroads into China’s domestic airline market
Selected airports daily share price movements (% change): 30-Dec-2009